St. Paul’s Episcopal Church Treasurer’s report June 2021
BALANCE SHEET
Total endowments are listed at a total of $2,564,777, with the operating endowment showing $680,438.
Market value of investments held at Huntington Bank started the month at $2,543,722 and ended at $2,564,777. An increase of $21,055, including $16,624 in unrealized gain, $6,172 in interest and dividends earned, and $1,741 paid to beneficiary.
INCOME STATEMENT
Pledge payments and gifts were $23,808 against budget of $31,728. Current month operating total (after endowment transfers, before investment activity) shows a current loss of $33,471. Year to date net gain is $120,527 against budgeted loss of $27,410. Current period loss is primarily due to capital expense of $20,280 and outreach expense of $5,964. Current period EWP tuition appears low but again this is “straight lined” in the budget and is expected to be at budget by year end.
Note at the bottom of the income statement we now show “transfer from endowments” and “investment activity”. Previously transfers from endowments would have been shown at the top of the statement as income, and the investment activity would have appeared only in the balance sheet and endowment summary sheet.
Elizabeth Wayne Preschool is showing a year to date loss of $14,845 against budget of -0-. YTD loss is due to tuition income being budgeted straight line.
Under one Roof has an ending balance of $40,717 with an additional $12,773 in gift cards balance. See financial summary for details.
Respectfully Submitted:
Mark Christophono, Treasurer – 07/18/21